WHEREAS, the City Council of Elkins, Arkansas, has this date been presented with two (2) agreement proposals form Stephens, Inc. concerning the financing of improvements and betterments to the Elkins Water and Sewer System;
WHEREAS, the Water and Sewer Committee requested proposals and statements of qualifications for underwriting services and financial advisory services from local and statewide providers;
WHEREAS, the Water and Sewer Committee received several responses to their request and after discussion and deliberation determined that Stephens, Inc. would best serve the needs of the City and the Water and Sewer Department on this project;
WHEREAS, the recommendation of the Water and Sewer Committee appears to be sound and meets with the approval ofthe City Council.
BE IT THEREFORE RESOLVED J?Y THE CITY COUNCIL OF ELKINS, ARKANSAS, that after due deliberation and consideration the attached agreements with Stephens, Inc. for underwriting services and financial advisory services are approved; the Council has determined that the interest of the City, its residents and occupants will be best served by accepting and entering into said agreements with Stephens, Inc. for their services in either issuing and selling bonds or securing a loan from ARNC to finance the needed water and sewer improvements.
The Mayor and Recorder-Treasurer should be and hereby are authorized to execute and deliver signed copies of the attached Agreements to Stephens, Inc. and to take all steps necessary to secure the anticipated services as spe~ified in such Agreements.
PASSED AND APPROVED THIS 3rd day of July, 2008.
- RESOLUTION 2008 - 18 (160 Downloads)